Milwaukee private investment firm Jacsten Holdings LLC has acquired Lake Villa, Ill.-based Vonco Products Inc.
Vonco manufactures flexible packaging products that are used in the medical, industrial, security, food and retail industries.
Larry Laske, Vonco’s majority owner, is retiring after 53 years with the family business.
“The family members at Vonco have been discussing the Company’s future for some time,” Laske said. “We sought a partner with a background in packaging along with a solid vision of just how they would take the remaining Vonco family (family members and dedicated associates) to the next level.”
Jacsten has hired Keith Smith to serve as president of Vonco. He is a strong manager with experience in flexible food packaging, said Jake Hansen, managing member at Jacsten.
Smith will help grow Vonco’s offering of food packaging products. The food industry has been using more flexible packaging for environmental and cost reasons over the last several years, Hansen said.
“Every time you go to the grocery store, there are more and more items in flexible packaging,” he said. “It’s a faster than GDP grower.”
Jacsten also plans to leverage Vonco’s current base business and enhance its go-to-market strategy, Hansen said.
Vonco has about 100 employees. Jacsten plans to add 20 to 30 employees over the next two to three years as it expands in the food packaging market, Hansen said.
